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Demonetisation biggest scam, agencies don't take action, claims Congress

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New Delhi, Apr 09: Claiming demonetisation the biggest sam in India, the Congress on Tuesday showed a video, claiming it was an expose on currency exchange conducted by the government after demonetisation.

Congress leader Kapil Sibal

"The biggest scam in India's history is demonetisation... It is sad that our agencies will investigate the opposition, but not those in power," Sibal said, hinting at the series of investigations and raids that have been taking place over the last weeks.

Releasing a video here at a press conference which showed the exchange of banned notes with the new currencies at the commission of 15 per cent to 40 per cent, Sibal said: "It is another proof of how Prime Minister Modi-led government looted people by banning the notes of Rs 500 and Rs 1,000 denominations during demonetisation in 2016."

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Claiming that an official of India's elite intelligence agency--Research and Analysis Wing (RAW) and that of IndusInd Bank were allegedly involved in the exchange of banned notes, Sibal said: "The video shows the exchange of demonetised notes with the new ones in a government godown in Maharashtra." He said the video has been made by a journalist but refused to give details citing security reasons.

But despite the existence of many such sting videos, no agency would undertake any investigation, he said.

On November 8, 2016, Modi had announced a ban on then in use Rs 1,000 and Rs 500 denomination bank notes with immediate effect.

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